Progress Made in US-EU Steel Tariff Talks, But 'Gaps to Be Breached' - European Commission
© AP Photo / Mark Duncan
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MOSCOW (Sputnik) - There is progress in the US-EU negotiations on tariffs on European Union steel and aluminum exports to the United States, but there is still work to be done, European Commission Vice-President and Commissioner for Trade Valdis Dombrovskis said on Friday.
"We are making progress. We are not quite there yet, but I think the gaps which we need to breach... we will be able to breach and arrive at the agreement," Dombrovskis stated during a Q&A session with the Atlantic Council on the sidelines of the International Monetary Fund (IMF) - World Bank Week in Marrakesh.
Asked about this month's looming deadline for an agreement on the possible lifting of tariffs, the commissioner said both the US and the EU were working with that timeline in mind.
"We are looking for an ambitious agreement which will allow us to address global steel overcapacity, greening of the industry and also put an end to [the tariffs]," Dombrovskis added.
2 August 2023, 18:46 GMT
In March 2018, former US President Donald Trump exercised his authority under Section 232 of the Trade Expansion Act to impose a 25% tariff on steel imports and a 10% tariff on aluminum imports, with exemptions for Canada and Mexico, as an alleged national security measure.
The meetings of the World Bank Group Boards of Governors and the IMF are being held in the Moroccan city of Marrakesh from October 9-15. The events are attended by central bankers, ministers of finance and development, private sector executives, civil society, media and academics, who gathered to discuss issues on a global scale, including the world economic outlook, global financial stability, poverty reduction, inclusive economic growth and job creation, climate change, and others.
